Tymit, a UK-based mobile-enabled installment credit card, announced on Tuesday it has partnered with Modulr, a payments-as-a-service API platform, to bring real-time payments to Tymit cardholders. The service gives customers access to take control of their finances and plan the way they pay.
Founded in 2017, Tymit’s mission is to reinvent the credit card to make it honest, safe, and more transparent, so its customers can achieve more peace of mind when managing their finances.
“Traditional credit cards from banks have clunky mobile experiences, unclear pricing, lots of fees, and lack of features to keep balances and costs under control. With Tymit you can experience financial flexibility and control like never before, all from your phone.”
Tymit also reported that Modulr’s API-first platform enables it to roll out real-time payments through the Faster Payments scheme to all its customers “quickly and efficiently.” This in return provides them with the transparency and control they need during these challenging times. While sharing more details about the partnership, Martin Magnone, CEO at Tymit, stated:
“Our partnership with Modulr gives our customer experience a serious boost by allowing us to apply payments in real time. Tymit users can now make Faster Payments and access an always up-to-date account balance, helping them manage their finances better through improved visibility. With this partnership, we’re bringing together the best in payments and credit innovation to offer a real alternative to the traditional credit card experience.”
Myles Stephenson, CEO at Modulr, then concluded:
“We live in a time where instant payments and balance updates are no longer ‘nice to have’, but a necessity that can make a real difference to people’s financial lives and wellbeing. Tymit’s mission to reinvent the credit card, using real-time account information is something that’s desperately needed right now. And powered by Modulr, our payments infrastructure will drive efficiency, creating faster and more efficient credit card experiences for Tymit customers.”